AFPM President and CEO Chet Thompson issued the following statement in response to the White House’s latest announcement of a release of crude oil from the SPR: “The SPR was never meant to serve as a substitute for actual crude oil production. At best, SPR releases are a short-term fix, not a long-term solution or signal of stability to a market craving reassurance..."
The American Fuel & Petrochemical Manufacturers (AFPM) today released a new video highlighting the safety approach and measures used by U.S. refineries with hydrofluoric acid (HF) alkylation units.
Earnings in commodities-based industries tend to be cyclical. Because of the up-and-down reality of refining, it would be a mistake to regulate or legislate based on the high points. A few quarters of earnings don’t provide an accurate representation. That context is important for answering the question of what happens with refinery profits and whether using earnings to “buy back” stock from shareholders is an appropriate use of those funds.
Governor Gavin Newsom continues to blame fuel refiners for California’s highest-in-the-nation fuel prices. He couldn't be more wrong. The problem and solution to much of California’s fuel price challenge can be found in Sacramento policy. Take a look to better understand the role of policy in regional price differences, why it’s inaccurate to equate “margins” or “refinery cracks” with “profits,” and why windfall profit taxes are a known policy failure.
AFPM President and CEO Chet Thompson issued the following statement regarding President Biden’s suggestion that a Windfall Profit Tax should be considered to address fuel supplies and prices: “Once again, the President is more worried about political posturing before the Midterms than he is about advancing energy policies that will actually deliver for the American people."
Restricting exports would be a major unforced error for the President, tightening global fuel supplies, throttling U.S. fuel production and increasing costs for American consumers. Likewise, imposing product inventory requirements boils down to siphoning gasoline and diesel into storage, and away from consumers.
Diesel inventories in the United States and around the world are low and there is growing concern about what tight supplies could mean heading into a cold winter. Below, AFPM’s industry analysts explain (1) what’s behind this particular supply chain challenge, (2) how U.S. refiners are adapting operations to meet consumer needs (i.e., running full out and maximizing distillate production) and (3) the role government might play in bringing about resolution.
WASHINGTON, D.C. – Kansas City Power & Light Company (KCP&L) has agreed to withdraw its proposal to charge its customer base for the costs of electric vehicle charging stations that solely benefit electric vehicle (EV) owners and operators.
AFPM Senior Director of Fuels and Vehicle Policy, Patrick Kelly, testified during the Environmental Protection Agency’s (EPA’s) public hearing on the proposed Renewable Fuel Standard (RFS) “Set” Rule. EPA’s proposal will stifle advanced biofuels, promote first generation biofuels beyond the market’s ability to absorb them and shift overall RFS growth away from liquid biofuels and into the power electricity sector. This is completely contrary to how congress envisioned EPA’s handling of the program.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) released the following statement after the House of Representatives passed H.R. 5729, the Transportation Worker Identification Credential Accountability Act of 2018
